The Ministry of Finance, led by the minister Temenuzhka Petkova, announced that until February 14, a new draft of the State Budget Act for 2025, as well as the draft budgets for the National Health Insurance Fund and the State Social Insurance, would be submitted to the Council of Ministers. The proposed budget aims to…
The European Union has extended sanctions against Russia until the end of the year, targeting various sectors including trade, finance, technology and personal rights. The EU also reiterated its readiness to impose additional measures if deemed necessary. Former Deputy Defense Minister of Bulgaria Yordan Bozhilov emphasized that sanctions were a key tool for the EU,…
Bulgaria has been closely monitoring inflation trends both domestically and in the eurozone, as these figures are key to determining the country’s potential entry into the eurozone. Despite meeting expectations for inflation in recent months, Bulgaria missed the required threshold by just 0.1%. As a result, the government plans to submit an extraordinary convergence report…
Bulgaria has successfully issued new government securities totaling 300 million leva, as announced by the Ministry of Finance following an auction held on January 27. The securities, denominated in leva, have a maturity of seven years with an annual interest coupon of 3.25%. The weighted average annual yield achieved at the auction was 3.47%, with…
Despite the measures imposed by the Bulgarian National Bank (BNB), housing lending in Bulgaria continues to rise rapidly. In November 2024 commercial banks approved housing loans totaling 923 million leva, marking an increase of nearly 5% from October 2024 and 22.5% compared to November 2023, according to BNB data. This follows a similar upward trend…
Israeli Ambassador to Bulgaria Yossi Levi-Sfari expects an increase in Israeli tourists to Bulgaria following the recent Gaza ceasefire agreement. He emphasized that Israel’s citizens preferred nearby and friendly destinations for their vacations, and Bulgaria fit this description perfectly. The diplomat pointed to the long-standing historical ties between the two nations and noted that multiple…
Bulgaria’s potential membership in the Eurozone continues to generate mixed messages, influenced by coalition politics and unmet criteria. According to Simeon Dyankov (deputy prime minister and minister of finance from 2009 to 2013), the chance of entering the Eurozone until January 2026 is negligible. Dyankov expressed skepticism that the coalition led by Temenuzhka Petkova could…